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Deutsche Beteiligungs
(XETRA:DBAN)
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Rating:58Neutral
Price Target:
€22.50
▲(5.63% Upside)
Action:Reiterated
Date:05/09/26
The score is mainly held back by inconsistent financial performance, including the shift to TTM losses and weaker free cash flow, despite a relatively solid balance sheet. Technicals are mildly supportive with the price above key moving averages and a positive MACD. Valuation is mixed: a strong dividend yield helps, but a negative P/E reflects recent profitability pressure.
Positive Factors
Conservative balance sheet and low leverage
Sustained low leverage (D/E ~0.27 TTM) gives the firm durable financial flexibility to support portfolio companies, seed co-investments and absorb valuation swings common in private equity. This reduces refinancing risk and preserves optionality for long-term deal activity and distributions.
Negative Factors
Volatile profitability and recent swing to loss
A swing from multi-year strong margins to a TTM operating loss highlights fragile earnings quality tied to timing of exits and portfolio valuations. For an asset manager, this undermines predictability of performance fees and dividends and complicates multi-period planning and investor confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and low leverage
Sustained low leverage (D/E ~0.27 TTM) gives the firm durable financial flexibility to support portfolio companies, seed co-investments and absorb valuation swings common in private equity. This reduces refinancing risk and preserves optionality for long-term deal activity and distributions.
Read all positive factors
Deutsche Beteiligungs (DBAN) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€398.67M
Dividend Yield4.72%
Average Volume (3M)17.57K
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth-41.23%
EPS Growth-108.85%
CountryDE
Employees122
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-0.29
Shares Outstanding18,804,993
10 Day Avg. Volume10,242
30 Day Avg. Volume17,568
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)0.62
Price to Sales (P/S)12.14
P/FCF Ratio-21.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€33.73Price Target Upside58.37% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.35
Revenue Forecast (FY)€95.66M
Deutsche Beteiligungs Business Overview & Revenue Model
Company Description
Deutsche Beteiligungs AG (DBAG) is a distinguished private equity firm, employing both direct investment and fund-of-funds strategies. Through its direct investments, DBAG specializes in providing various forms of capital—including expansion, grow...
How the Company Makes Money
DBAN generates earnings from two primary sources: (1) investment income from its own balance-sheet private equity holdings and (2) recurring and performance-based income from managing private equity funds. On the investment side, DBAN invests its ...
Deutsche Beteiligungs Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
53
Neutral
| Breakdown | TTM | Dec 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.58M | 32.84M | 114.07M | 160.76M | -52.56M | 224.62M |
| Gross Profit | 86.78M | -49.19M | 107.77M | 157.44M | -53.69M | 223.13M |
| EBITDA | -14.01M | -26.34M | 55.46M | 110.62M | -94.44M | 186.94M |
| Net Income | -5.01M | 24.70M | 47.51M | 105.78M | -97.56M | 185.13M |
Balance Sheet | ||||||
| Total Assets | 820.40M | 922.97M | 913.69M | 708.27M | 646.41M | 734.95M |
| Cash, Cash Equivalents and Short-Term Investments | 60.97M | 40.75M | 23.97M | 20.02M | 19.16M | 37.74M |
| Total Debt | 167.79M | 230.09M | 139.00M | 13.14M | 42.45M | 4.10M |
| Total Liabilities | 207.06M | 283.31M | 225.33M | 38.89M | 66.95M | 36.19M |
| Stockholders Equity | 613.28M | 639.67M | 688.36M | 669.38M | 579.46M | 698.76M |
Cash Flow | ||||||
| Free Cash Flow | 12.74M | -18.56M | 12.33M | 8.60M | 28.66M | -7.73M |
| Operating Cash Flow | 13.39M | -17.82M | 13.04M | 9.35M | 29.54M | -7.64M |
| Investing Cash Flow | 7.65M | -3.71M | -104.45M | 48.67M | -57.67M | -47.00M |
| Financing Cash Flow | -9.27M | 12.89M | 95.35M | -57.16M | 9.56M | 74.00M |
Deutsche Beteiligungs Technical Analysis
Negative
21.30
Price Trends
22.47
Negative
23.34
Negative
23.58
Negative
Market Momentum
-0.32
Negative
44.76
Neutral
69.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:DBAN, the sentiment is Negative. The current price of 21.3 is below the 20-day moving average (MA) of 21.53, below the 50-day MA of 22.47, and below the 200-day MA of 23.58, indicating a bearish trend. The MACD of -0.32 indicates Negative momentum. The RSI at 44.76 is Neutral, neither overbought nor oversold. The STOCH value of 69.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:DBAN.
Deutsche Beteiligungs Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €184.70M | 8.45 | 15.86% | 5.25% | 0.49% | 38.41% | |
67 Neutral | €74.25M | 3.16 | 22.19% | 3.94% | -34.04% | 77.23% | |
58 Neutral | €398.67M | -73.33 | -0.80% | 4.69% | -41.23% | -108.85% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €684.00M | 1.86 | -1.93% | 7.39% | 23.23% | 96.31% |
* General Sector Average
DE:DBAN
Deutsche Beteiligungs
21.50
-1.68
-7.24%
DE:MPCK
MPC Munchmeyer Petersen Capital AG
5.20
0.21
4.21%
DE:B7E
Blue Cap AG
16.35
-0.12
-0.71%
DE:MUX
Mutares SE & Co. KGaA
27.05
1.98
7.89%
DE:B8A
BAVARIA Industries Group AG
101.00
23.00
29.49%
DE:SVE
Shareholder Value Beteiligungen AG
70.50
-18.50
-20.79%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.